Sollio reports annual results

Sollio Cooperative Group reported net earnings of $115.4 million for the fiscal year ending Oct. 28, 2023, reversing a net loss of $336.9 million in the previous year. Consolidated sales amounted to $8.3 billion, slightly down from $8.4 billion. At its annual general meeting yesterday, the group announced the buyback of $28 million in shares. Sollio’s retail division, BMR Group, earned net income of $34.5 million in 2023, compared to $41 million the previous year, while sales rose to $1.46 billion.